FX.co ★ Patterns AUDUSD | Australian Dollar (AUD) to US Dollar (USD) Rate in the Forex market

According to the chart of M30, AUDUSD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.6977 - 0.0000 and support 0.6963 – 0.6963. In case the resistance level 0.6963 - 0.6963 is broken, the instrument is likely to follow the bearish trend.

The Double Bottom pattern has been formed on AUDUSD M30. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 0.6977 is broken. The further movements will rely on the width of the current pattern 13 points.

The Double Bottom pattern has been formed on AUDUSD M5; the upper boundary is 0.6967; the lower boundary is 0.6964. The width of the pattern is 3 points. In case of a break of the upper boundary 0.6967, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

According to the chart of M5, AUDUSD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.6964 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -16 pips.

According to M5, AUDUSD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.6974/0.6976 is broken out, the instrument is likely to move toward 0.6991.

The Triple Bottom pattern has been formed on AUDUSD M15. It has the following characteristics: resistance level 0.7000/0.6994; support level 0.6986/0.6987; the width is 14 points. In the event of a breakdown of the resistance level of 0.7000, the price is likely to continue an upward movement at least to 0.7010.

The Double Bottom pattern has been formed on AUDUSD M15. Characteristics: the support level 0.6986; the resistance level 0.7000; the width of the pattern 14 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 13 points.

The Bullish pennant signal – Trading instrument AUDUSD M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 0.7004, with the prospect of the next move being a projection of the flagpole height.

The AUDUSD H1 formed the Head and Shoulders pattern with the following features: The Head’s top is at 0.7027, the Neckline and the upward angle are at 0.6994/0.6997. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of AUDUSD will go towards 0.6957.

The Double Bottom pattern has been formed on AUDUSD M5; the upper boundary is 0.7013; the lower boundary is 0.7003. The width of the pattern is 10 points. In case of a break of the upper boundary 0.7013, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.